GBP/USD @ 07.10 am (Malaysia)

BUY Area - 1.5105 ( My Target : 1.5193 Next : 1.5251 Fail to go further candle may drop deeper at 1.5050 area)

SELL Area - 1.5065 ( My Target : 1.5034 Next : 1.4991)

Salam and Hi........

Trading Range is between 1.4850 to 1.5372.

Allah Hu.

ps. Dijemput semua ex student saya ke Kenduri Doa selamat saya pada hari Jumaat 08 Mei 2009 jam 08.30 malam. TQ

GBP/USD @ 08.15 am (Malaysia)

GBP/USD - BUY Area:: 1.4637 (My Target : 1.4750 Next : 1.4845)

SELL Area: 1.4595 (My Target : 1.4571 Next : 1.4526 Next : 1.4477)

Salam and Hi.......... Trading Range is between 1.4450 to 1.4800.

Yesterday as aspected my sell and buy area met and buy area met my second target at 1.4680 and stop at 1.4706.

Now CS is in Consolidations mood from yesterday movement and looks like It may test 100% level of Fibonacci.

Please reffer to H4 chart and i've see a Bullish Continuitions Pattern will be. Anyway new CS on H4 open below middle band of BB but CS open above 61.8% on Fibo and is trying to penetrate it.

Looks like the bullish mood is still here at this moment. Also seen already got big flag at H1, maybe there will be a long spike any time from now. Let see what will happen today and please be more discipline and please set your target.

until then happy trading and salam.

Allah Hu.

ps... nah ambil predictions ini. ini bukan tiru mana-mana yea. Saya buat sendiri. Betul ke tak sila reffer indicator berkaitan. Sedekah kat anak yatim sikit duit tu kalau untung hari ini.

Allah Hu.

From Vahid - Weboma

So what should you do?

1. Start learning first and complete your knowledge. Learn everything that you should know about the trends, patterns, support, resistance, candle sticks, reversal and continuation signals and … . There are a lot of websites that have these information for free. You have to spend at least three months to learn all these things.

2. Decide that if you want to be a swing trader or an intraday trader. As a beginner you should choose one of them because you have to be focused on one thing first.

3. Choose a system (strategy). Your system should be as simple as possible. Complicated systems are not applicable. You can only lose with them. A System should be as easy as 1, 2, 3. Also choose a system that works according to technique and knowledge not according to superstitions. In an e-book I read about a strategy that says you should buy when you see the price has gone up for 80 pips before noon!!!

4. Start trading with the demo account using the system you have chosen. If you see that you don’t like your system or it is not good, change it. Find a better and simpler system. Get stuck to it and test it over and over and over. Spend several months to one year with the demo account. Do not be fooled by some of the forums members who say “I have started working on forex two months ago and now I make 100 pips everyday”. This is not true.

5. Forget that the account you are working with it is a demo account. Consider it as a real account. When you see you are losing, think that it is your REAL money that is burning. And when you see that you are making profit think that it is going to your real bank account. Keep in your mind that if you rush and trade emotionally you lose your money. This will help you to experience your fear and greed before trading with the real account. If you experience them, you will learn to control them. Don’t let them show themselves right when you start trading with your real money.

6. Then start working with a real account BUT trade with a very very small amount of money. I don’t care if you have a $500k account or a $100 account. Start trading with the minimum amount that you can place an order. Keep on working with this amount of money for a few weeks. If you saw that you are trading exactly like when you have been trading with the demo account, increase the amount of the money gradually. Do not play with a huge amount of money after a few successful trades.

7. Don’t give up! Don’t get disappointed when you lose. Everybody loses at the beginning. Even the best traders lose in some of their trades. Learn from your mistakes. Keep in your mind that losing is part of the game. We do not practice to learn not to lose. We practice to learn how to lose small amounts and win big amounts. Your stop loss will be triggered in some cases. This is natural. It should not prevent you from entering to another trade.

If you work in the way I explained above, you will become a professional trader in about one year without losing your money and without having to reload your account.

Happy trading

Vahid

GBP/USD @ 09.45 am (Malaysia)

SELL Area - 1.4643 ( My Target : 1.4584 Next : 1.4550)

BUY Area - 1.4685 ( My Target : 1.4705 Next : 1.4744 Next : 1.4778)

Salam and Hi....

Today is a Bank Holiday in most country in Europe. That mean no so much trading activity today. So better sit down and study back what you have learn from me before. Anyway trading range today is between 1.4580 to 1.4957 and maybe monday morning more activity will happen. If the initial resistance hold at 1.4778 candle possibility may drop to 1.4290 area Next Week. Until then Good Luck.

Allah Hu.

From Market oracle.. please read !!!

The USD held gains today as risk-aversion in equities prompted dollar-buying pushing the majors into key S/R at the start of the day. Although the Greenback is higher across the board today volumes were lighter and traders noted quality buying of the majors into the lows. Confirmed sovereign and semi-official names were seen buying EURO and GBP on the dips holding those pairs off their early New York lows.

GBP low prints at 1.4580 was not challenged in New York today and the rate lifted to a two-pip high at 1.4780 before settling back to the 1.4720 area; traders note stops in-range above the 1.4720 area seen as daily resistance and with the rate holding gains from the start of New York traders are expecting further gains overnight despite weakness in equities seen to start the week.

Across the board the USD rally today has failed to extend gains suggesting that despite risk-aversion trade today this firmness is likely a corrective rally rather than the start of a move higher. Although many traders remain bullish USD for the near-term the rallies seem to lack conviction; further strength is likely to be offered and aggressive traders need to see this rally as a selling opportunity. Look for the USD to remain two-way overnight with any strength to be on light volume and holding under resistance. With a light economic calendar ahead the action should be technical for the most part.

GBP/USD Daily

Resistance 3: 1.5040/50, Resistance 2: 1.5000, Resistance 1: 1.4950

Latest New York: 1.4736, Support 1: 1.4650, Support 2: 1.4580, Support 3: 1.4550

Comments

Rate falls through stops layered under the 1.4650 area for lows on support at 1.4580; pullback being bought by large names traders say. Aggressive traders can look to re-set longs on the dip; stops above the market from late shorts around 1.4720 area cleared today. Traders note support is likely firm at the 1.4450 area as expected. Close over 1.4900 argues for further gains but tech resistance is firm ahead of 1.5000. Overhead target of the 1.5000 area likely to trade but expect pressure. Traders feel the 23-year lows will likely remain secure. The shorts may have lost control of the market above the 1.4440 area now and if that is the case a test of the 1.5000 area is almost a done-deal. Traders report stops in-range adding for two-way action.

Data due Wednesday: All times EASTERN (-5 GMT)

5:30am GBP BRC Shop Price Index y/y

GOLD !!! GOLD !!! GOLD ????

Bob Prechter on Silver & Gold

In case you hadn’t noticed: Over the past year of financial turmoil, the “safe haven” premium of precious metals has offered about as much support as a rubber ducky in a tsunami. Despite a string of powerful rallies, silver and gold remain well below their March 2008 peaks.


It goes without saying that the greatest opportunities in precious metals were not had by those who played the “disaster hedge” card; but rather by those who timed the trends as they developed, regardless of the fundamental backdrop.

Bob Prechter is in the latter group. Amidst the buzz and whirl of the most bullish backdrop in precious metals’ recent history, gold and silver prices soared to new, all-time highs and calls for a “New Gold Rush” and “$30 Silver” flooded the mainstream airwaves. Yet Bob alerted subscribers to an approaching top in the March 14, 2008 Elliott Wave Theorist.

“The wave count [in silver] is nearly satisfied, though ideally it should end after one more new high. If this analysis is accurate, and silver does peak and begin a bear market, gold is likely to go down with it.”

In the days that followed, prices in both metals fell off a cliff. In turn, Bob was asked to address his exceptional call for a turn down in a March 19, 2008 Bloomberg interview. Here are of excerpts from that conversation:

Bloomberg: “Why did you put out that call on Friday (March 14) about a peak in precious metals?”

Editor’s Note: You can download Bob Prechter’s 5-page report, Gold & Recessions, free from Elliott Wave International. It features 63 years of historical analysis that reveals how gold, T-notes, and the DJIA have performed in recessions and expansions.

Bob Prechter: “One of the reasons is that it seemed like an absolutely sure thing. We track several indicators of sentiment. One of them is the Daily Sentiment Index (DSI). That reached 98% bulls on a one-day basis going into this last high. We were tracking silver as well… as it is clearest in our minds. Now, at the time, we needed one more slightly new high. That happened Monday morning and silver dropped 15% in 48 hours. That’s a heck of a reversal and I think it’s real.”

“Real” indeed: From their March peaks, gold prices plummeted 34%, alongside a 60% sell-off in silver before hitting the breaks in October. Here, the October 2008 Elliott Wave Financial Forecast prepared for a corrective rebound and wrote:

“Silver traced out a five-wave decline from its March peak…Gold should also rally as silver pushes higher. Once silver’s rise is exhausted (initial target: $15.15), the larger downtrend should resume for both metals.”

A powerful, four-month bounce ensued in both metals: Gold prices came within kissing distance of its March peak before turning down on February 20; silver followed suit — a fulfillment of this bearish, near-term insight presented in the February 23 Elliott Wave Theorist:

“Silver has been clear as a bell. Silver is due to turn back down, and gold, which is back at $1000/oz, is likely to follow.”

Since then, it’s been a steady march lower for both metals. Obviously, EWI’s forecasts do not always prove this accurate. Yet in this case the analysis speaks for itself.

For more metals analysis from Bob Prechter, download Gold & Recessions a free 5-page report from Elliott Wave International. It features 63 years of historical analysis that reveals how gold, T-notes, and the DJIA have performed in recessions and expansions.

GBP/USD Pair @ 07.37 am (Malaysia)

Trading Range Is Between 1.4100 to 1.4779.

BUY Area - 1.4423 (My Target is 1.4482. Next : 1.4534 Next : 1.4614).

SELL Area - 1.4385 (My Target is 1.1.4323. Next : 1.4271).

Salam and Hi,

Yesterday my buy area met at 1.4327 and met my target at 1.4450 and stop at 1.4482. Congratulations who got it and I hope you got your target. As I've told before - please set your target and be more discipline. Don't forget the basic before you enter the positions.

Trading Range Is Between 1.4100 to 1.4779.

Please be alert on all reversal signal at H4 like Bearish and Bullish Reversal Signal including Doji, morning star, bearish/bullish continuations candle or Abandoned Baby and Harami. Be happy today and please set your target.

Allah Hu.

GBP/USD Pair @ 07.00 am (Malaysia)

BUY Area - 1.4243 (My Target : 1.4302. Next : 1.4336 Next : 1.4411)

SELL Area - 1.4203 (My Target " 1.4146. Next Target : 1.4034)

Salam and Hi.........

Trading Range is between 1.4100 to 1.4779.

Allah Hu

GBP/USD Pair @ 07.37 am (Malaysia)

SELL Area - 1.4339 (First Target : 1.4250 Next : 1.4200 Next : 1.4126)

BUY Area - 1.4377 (First Target : 1.4493)

Salam and Hi.........

Trading Range is between 1.4100 to 1.4779.

Allah Hu

Dollar To Be Replaced !!!

UN and PBOC Call For Dollar To Be Replaced By Single World Currency
by Larry Edelson on March 26, 2009

It’s starting, just like I predicted it would over 10 years ago. And it’s on time. By 2011 — which I have pointed out several times, is what I call a ‘panic cycle’ year in the currency markets — the dollar should be gone as a reserve currency.



See articles below, both the U.N. and the PBOC are now calling for the dollar to be replaced. — Larry

U.N. Will Recommend that the World Should Ditch the Dollar

By Jeremy Gaunt, Special to Salem-News.com



UN Currency specialist Avinash Persaud has long argued that the dollar would give way to the Chinese yuan as a global reserve currency within decades.



(LUXEMBOURG (Reuters) ) — A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.



Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.



Persaud, chairman of consultants Intelligence Capital and a former currency chief at JPMorgan, said the recommendation would be one of a number delivered to the United Nations on March 25 by the U.N. Commission of Experts on International Financial Reform.



“It is a good moment to move to a shared reserve currency,” he said.



Central banks hold their reserves in a variety of currencies and gold, but the dollar has dominated as the most convincing store of value — though its rate has wavered in recent years as the United States ran up huge twin budget and external deficits.



Some analysts said news of the U.N. panel’s recommendation extended dollar losses because it fed into concerns about the future of the greenback as the main global reserve currency, raising the chances of central bank sales of dollar holdings.



“Speculation that major central banks would begin rebalancing their FX reserves has risen since the intensification of the dollar’s slide between 2002 and mid-2008,” CMC Markets said in a note.



Russia is also planning to propose the creation of a new reserve currency, to be issued by international financial institutions, at the April G20 meeting, according to the text of its proposals published on Monday.



It has significantly reduced the dollar’s share in its own reserves in recent years.



Good Time



Persaud said that the United States was concerned that holding the reserve currency made it impossible to run policy, while the rest of world was also unhappy with the generally declining dollar.



“There is a moment that can be grasped for change,” he said.



“Today the Americans complain that when the world wants to save, it means a deficit. A shared (reserve) would reduce the possibility of global imbalances.”



Persaud said the panel had been looking at using something like an expanded Special Drawing Right, originally created by the International Monetary Fund in 1969 but now used mainly as an accounting unit within similar organizations.



The SDR and the old Ecu are essentially combinations of currencies, weighted to a constituent’s economic clout, which can be valued against other currencies and indeed against those inside the basket.



Persaud said there were two main reasons why policymakers might consider such a move, one being the current desire for a change from the dollar.



The other reason, he said, was the success of the euro, which incorporated a number of currencies but roughly speaking held on to the stability of the old German deutschemark compared with, say, the Greek drachma.



Persaud has long argued that the dollar would give way to the Chinese yuan as a global reserve currency within decades.



A shared reserve currency might negate this move, he said, but he believed that China would still like to take on the role.



Special thanks to Jeremy Gaunt, European Investment Correspondent, for this report. (editing by Patrick Graham)

GBP/USD

Sterling:

Confidence in the economy will remain very weak in the short term with expectations of a further deterioration and deep recession. The near-term Sterling trends will also be influenced strongly by trends in risk appetite with a particular focus on the UK banking sector. The UK currency will come under further pressure if confidence in the sector continues to deteriorate while any reassurance over the banks could trigger a sharp corrective rally for the UK currency. In this environment, trading volatility is likely to remain at elevated levels with good buying support on retreats towards 1.35. The Euro looks to offer little short-term value above the 0.95 level against Sterling.


Sterling remained under pressure on Friday and weakened to a fresh 23-year low near 1.35 against the dollar. Sterling also dipped to three-week lows around 0.9470 against the Euro following the UK data. Overall confidence in the economy will remain extremely weak in the short term, especially with budget fears increasing

There will still be some scope for a correction from over-sold conditions, especially after a weekly decline against the dollar of close to 8% and Sterling recovered back to near 1.38 later in US trading. Given the lack of confidence, rallies quickly attract selling pressure and Sterling retreated again towards 23-year lows on Monday with a test of support below the 1.36 level before a rebound to above 1.37 as UK banking shares rallied.

GBP/USD Pair @ 11.00 am (Malaysia)

SELL Area : 1.4485(First Target : 1.4400. Second : 1.4350 Third : 1.4292)

BUY Area : 1.4527(First Target : 1.4606)

Salam and Hi....

Yesterday Sell area met at 1.4577 and met my second target at 1.4467 and stop at 1.4422.

So price at 1.4350 still hold and candle bounce back this morning to test Mr. Pivot at 1.4505. As long as 1.4350 not broken candle possible to test 1.4779.

Trading Range is between 1.4350 to 1.4779 as 1.4779 will be initial resistance.

Allah Hu

GBP/USD Pair @ 11.00 am (Malaysia)

SELL Area - 1.4656 (First Target : 1.4575. Second Target : 1.4452).

BUY Area - 1.4677 (First Target : 1.4779. Second Target : 1.4850).

Salam and Hi........

Yesterday as aspected my buy area met and achived my second target at 1.4750 and close at 1.4779. From there candle drop back to 1.4636 and at this moment still in consolidations move from that drop. Looks like market is still testing 1.4850 today. Anyway fail to do so, candle may drop back to find 1.4350. From here maybe candle will test yesterday high at 1.4779. Good Luck.

Trading Range is between 1.4350 - 1.4850.

Breaking 1.4850 candle may test 1.5000 area.

Salam and Allah Hu.

TIPs From Uncommon Wisdom

Dollar Begins Decline
by Larry Edelson on March 19, 2009

The much anticipated decline of the US dollar appears to have started with yesterday’s announcement that the Federal Reserve will start buying up to $300 billion of Treasuries and mortgage bonds. The action is expected to expand the central bank’s balance sheet by $1.15 trillion. The excess supply of dollars is threatening investors with fears of an inflationary spiral. The Dollar Index reflected this as it fell 2.7%, the largest one day drop since 1971.

The dollar started on a declining trend in 2005 amid concerns for the United States’ expanding current account deficit. However, this trend was largely reversed last year as investors flocked to risk free U.S. Treasury Bills amid panic in global financial markets, raising demand. Analysts also agree much of the demand for the dollar was made up of investors unwinding their positions, and was not actual sustainable demand.

My Opinion: These actions emphasize the severity of the economic crisis in the U.S. While the recession has taken its toll on most economies, central banks have largely avoided printing money at the pace the Fed has. Eventual devaluation isn’t a hypothesis but rather a proven fact — printing money leads to inflation, which erodes the value of the currency in question. One needn’t look further than Zimbabwe to see this in action.

As more money is printed, there is more currency chasing the same amount of goods. Production isn’t increasing in the United States and all this excess capital will be representative of the same volume of production. If for example there was $100 in an economy which produced 10 equal products, each product would be valued at $10. If the central bank printed an extra $50 and let it circulate without any matching increase in production, $150 would be representative of the same 10 products, thus pricing them at $15 each, resulting in 50% inflation.

As inflationary pressure mounts, I expect more investors to dump dollars in favor of assets that offer a better inflationary hedge, like gold.

GBP/USD Pair @ 04.30 am (Malaysia)

Salam and Hi....

Huhuhu yesterday both my sell and buy area met the target. Please reffer back yesterday predictions. I've heard some of them got more 500 pips up and down. Candle at M30 Chart at 04.30 am (Malaysia) already performed Abandoned baby - might give another at least 60 pips. Let see this happen pal. I want to sleep now after Morning Prayer and let's wait my next predictions after 12.00 noon today. Have to get some rest after chating long hour with Mr. Ziga from Slovenia. Until then good morning to all my frenssssssssssss. Allah Hu.

09.30 am (malaysia):

Trading range is between 1.3654 to 1.4606. Look like the drop from 1.4985 already accomplised and maybe candle already found the initial support to test the initial resistance at 1.4985 - I hope so and let us see this happen or not:

BUY Area - 1.4173 (My target is 1.4350. Next is 1.4481. Possiblelly will test 1.4606 area)

SELL Area - 1.4133 (My target is 1.3932. Next 1.3841 area)

Allah Hu.

ps : have to continued my sleeping time - I hope so if no hp call. Salam.

GBP/USD Pair @ 11.00 am (Malaysia)

Trading Range is between 1.3654 to 1.4231.

1. BUY Area 1.4101 (MY target is 1.4231. Next is 1.4303. Possiblely may go further up to 1.4600 area).

2. SELL Area 1.4061 (my target is 1.3934. Next is 1.3705).

Allah Hu.

GBP/USD Pair @ 06.45 am (Malaysia)

BUY Area - 1.3827 (My target is 1.3955. Second target is 1.4090)

As long as 1.3955 not broken, candle may drop back to test 1.3600 area. If break 1.3955, candle will test 1.4090.

SELL Area - 1.3787 (My target is 1.3653)

Trading Range is between 1.3600 - 1.4305.

Salam and Allah Hu.

ps... busy today because may daughter iqin got her SPM results today. Available after 2.00 pm.

16 January 2009 @ 3.00 pm (Malaysia) GBP/USD Pair:

Happy Birthday To Me... yes today is my Brithday and sorry for the late predictions from me. What I see today is the continues yesterday predictions. Please read my predictions on 15th January 2009 for Buy Area. It already broke the 1.4700 area so the candle without shy already go sharply bullish. I hope you all will get it and take this opportunity.


So What Next:

This is my predictions at this moment. The Candle is retesting this year High at 1.5372 and the initial support is still at this year low at 1.4350. Then from here if it fail to go further the H4 will perform double Top and the candle will again retest back to 1.4350 at 2009 low and if this happen it will try to go further down to 1.4200 area in few days.

If you noticed yesterday on H4 chart the candle already performed a double bottom line (double blue triangle on the chart and please refer) and that why after that the candle go up further to 400 pips at this moment. Read back on the fx analysis given to you before.

Let see what happen next and remember my advice to you, please trade on what you see not on what you think to be next. All indictor are relible and please be aware all the reverse signal. The oil and gold price is getting down and please be alert on any news emerge today.

THE CANDLE SHOULD TRY TO BREAK THE 1.5120 RESISTANCE AREA.

SAVE THE PALESTINE FOR THE PEACEFULL OF THE WORLD - GO FOR JIHAD TO ALL MUSLIM PEOPLE BY SEND FOOD AND MONEY TO FIGHT THE ZIONIS AND CRUEL BUSTARD BUSH REGIME AND THE BLOODISH COMPANY WHO SUPPORT THE SATANIST ZIONIS GROUP. ALLAH THE AL MIGHTY - PLEASE SEND YOUR POWER TO TOTAL ABOLISH ZIONIS TANK AND SOLDIER WITHOUT MERCY. THAT IS YOUR PROMISE WRITEN IN OUR HOLY QURAN. GO FOR JIHAD, GO, GO AND GO. AMEEN... YA RAB BUL A'ALAMEEN.. INSYALLAH. ALLAH HU.